EBF MORNING BRIEF Thursday 19 January 2023 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Bloomberg: Kelleher slams EU impasse over banking union
The EU's failure to complete the banking union is putting the continent’s lenders at a strong disadvantage, according to UBS Group AG Chairman Colm Kelleher. The region “needs a markets-based banking system,” he said. According to Bloomberg, the creation of joint deposit insurance has long been the main obstacle. Read more
Reuters: ECB Villeroy says inflation battle not yet won
The European Central Bank (ECB) has yet to win its fight against sky-high inflation so its guidance for big rate hikes in the months ahead remains valid, French central bank chief Francois Villeroy de Galhau said. Villeroy was also relatively optimistic about growth, arguing that a recession could be avoided given recent indicators, Reuters writes. Read more
Finextra: Bank of Spain's green light to test euro-backed stablecoin
As reported by Finextra, the Bank of Spain has given the green light for a pilot run of a euro-backed stablecoin by payments fintech Monei. The euro-pegged digital token, EURM, has emerged from the Bank of Spain's digital sandbox for testing innovative new propositions. Read more |
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MAIN EVENTS
Thursday 19 January
Friday 20 January
Council Horizontal Working Party on Cyber Issues Council Working Party on the United Kingdom
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS BdB: Transition finance is important to climate protection Frederic Long, Associate at the Association of German Banks (BdB) discusses the opportunities and challenges in transition finance and why isn't it enough to just promote activities that are already green. " The EU Commission should make the development of a clear and manageable framework for transition finance a priority. We will only achieve a green economy by greening the economy," he concludes. Read more (DE)
UK Finance: ESG risk management
While the area of sustainability resilience is an emerging one, it is key that organizations start making progress in achieving it. As reported by UK Finance, organizations should strive to implement best practice addressing existing gaps, and ensuring that they understand the short, medium, and long-term impacts of ESG risks and opportunities. Read more
ABBL: ABBL, ALFI & ACA European Affairs Brussels Team
In February 2022, the Luxembourg Bankers Association (ABBL) and the ACA signed a partnership agreement strengthening the collaboration between the two associations. The partnership is materialized by the fact that the joint public affairs representation office of the ABBL and ALFI will henceforth also defend the interests of Luxembourg insurers. Read more |
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FROM THE INSTITUTIONS ECB: How high corporate debt stifles investment Hit by multiple shocks, the corporate sector has increased its debt over recent years. The European Central Bank (ECB) Blog shows that strained balance sheets could significantly depress firms’ investment in the coming years with negative implications for innovation and growth. Read more
EIOPA: Consumer Trends Report 2022
The European Insurance and Occupational Pensions Authority (EIOPA) published its Consumer Trends Report 2022 which examines the financial health of consumers and small businesses through their use of insurance and pension savings products. Read more
BIS: Opportunities and challenges of the tokenization of finance
Digitalization is far from being new in the financial sector, but tokenization based on DLTs may be a new turn. In his speech published by the Bank for International Settlements (BIS), Denis Beau, First Deputy Governor of the Bank of France, explains why there is a strong interest in the development of tokenized finance, and how it impacts the policy tools to fulfill the mandate of the Bank of France. Read more |
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FROM THE EBF
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ABOUT THE EUROPEAN BANKING FEDERATION
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu |
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This newsletter is published by the EBF Mediacentre.
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